 The Commerce Department says sales of new homes in May dropped more than 11% to a six-month low. The supply of newly built homes rose to a 16-year high. Levi Strauss has fallen just short of expectations with second quarter revenues of $1.44 billion. Strong sales of women's clothing, especially denim dresses, tops and skirts, were offset by a downturn in Levi's Dockers lineup. Jim Ryan, ABC News.